The Bank of Japan raised its economic growth forecasts on Tuesday, but kept its policy stance unchanged, as was widely expected in its latest policy review.
The central bank raised its gross domestic product (GDP) forecast to 1.4 percent for the current fiscal year, from its previous forecast, made in October, of 1.0 percent growth. For fiscal 2017, it raised its economic growth forecast to 1.5 percent, from 1.3 percent, and for fiscal 2018, it raised its forecast to 1.1 percent, from 0.9 percent.
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